Wells Fargo's winning forecasts driven by effects of QE2 on the dollar
Wells Fargo topped this week’s three-month currency forecast rankings after predicting volatility in the foreign exchange markets in the first quarter of 2011.
On January 7, the US bank predicted USD/JPY would be at 82 in three months’ time and GBP/USD would rise from 1.54 to 1.62. This turned out to be an accurate prediction, with USD/JPY opening at 82.43 on March 30 and GBP/USD at 1.60.
At the time of forecasting, the bank was heavily influenced by the Federal Reserve’s second round of
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